1227 Cypress Creek Ln · Toledo, OH 43615

$159,900

4 bd · 2.0 ba · 2,000 sqft · MultiFamily public records · 26 Days on market

Built 1978 0.29 ac lot $80/sqft · 16% below area Est $191k · 16% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.7/30.0
• ARV discount +14.9/15.0
• DSCR +9.8/10.0
• 1% rule +8.1/10.0
• Livability +3.3/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Great opportunity in a quiet neighborhood! This 1978 single-story Ranch-style twinplex offers two side-by-side units on one level. One unit is currently rented for $700/month, while the other is vacant and ready for a new owner-occupant or tenant. Each unit features 2 bedrooms, 1 bathroom, a spacious living room, and a large eat-in kitchen. Both sides include in-unit laundry, forced-air furnace, and central air conditioning. Updated vinyl windows throughout, low-maintenance brick exterior, and a fully fenced privacy backyard provide comfort and ease of ownership. Additional features include a two-car garage with dedicated driveway and a small covered front porch. Perfect for an owner-occupa

Key facts

• In-unit laundry
• Forced-air furnace
• 0.29 acre lot

Tags

• TWO SIDE-BY-SIDE UNITS
• IN-UNIT LAUNDRY
• FORCED-AIR FURNACE
• CENTRAL AIR CONDITIONING
• UPDATED VINYL WINDOWS
• LOW-MAINTENANCE BRICK EXTERIOR

Property features AI

Finance

• Financial info: Two-unit building with one unit occupied and one unit vacant; Tenants pay electricity and gas; Owner responsible for grounds care, water, snow removal, and taxes

Exterior

• Parking: Detached garage; Total 4 parking spaces (2 in garage); Asphalt driveway
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Residential income property (duplex); Single-story
• Construction: Brick construction; Shingle roof; Crawl space foundation; Built as a duplex / multi-family
• Exterior features: Full privacy fencing; Irregular lot

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator
• Flooring: Carpet; Tile
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: No interior steps
• Laundry & utility: In-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 7.5% in Toledo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#645 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Toledo City (urban): math 15% / reading 24% proficiency, ranked #634 of 656 in OH (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Grove Patterson Academy Elementary School (math 47% / reading 66%, grade C+, #761 of 1,584 statewide, top 48%, 403 students, 38% FRL); Rogers High School (math 8% / reading 27%, grade F, #689 of 781 statewide, top 90%, 721 students, 0% FRL) — zoned schools average 19% FRL vs 72% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 37% at this address vs 20% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Toledo City average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.6%/yr); 116 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent runs 44% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $79k; list at $160k implies a 103% gain — meaningful room to come down on a strong offer.

Recommended offer $157,501 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.31% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.94%
• DSCR: 1.58
• GRM: 6.4

CMA / ARV

• ARV (median comp): $191,202
• List price: $159,900
• Delta: -16.37%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.59% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.09×
• Total profit: $4,055
• Equity at exit: $23,842

10-year hold

• IRR: 11.6%
• Equity multiple: 1.89×
• Total profit: $39,924
• Equity at exit: $13,825

Cash invested: $44,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 43615

• Home prices YoY: -31.9%
• Rents YoY: 2.6%
• Active inventory: 116
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,098 high
• Mortgage (P&I): −$839
• Tax from tax record: −$269 /mo · $3,233/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $483

Break-even live

Break-even rent $1,487

Max offer price $159,900

Occupancy floor 72%

Sensitivity live

Price	-10% $573	-5% $528	+0% $483	+5% $438	+10% $392
Rent	-10% $317	-5% $400	+0% $483	+5% $566	+10% $649
Rate	-1.0pp $563	-0.5pp $524	base $483	+0.5pp $441	+1.0pp $399

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,098
Total (2 units)			$2,098

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5001 South Ave Toledo, OH	3.0	2.0	1312	$1,424	$1.09	15d	1	0.91mi

Listing history 25 events

1. 2026-06-14
   status $159,900 Pending 26 DOM
2. 2026-06-10
   days on market $159,900 Active 26 DOM
3. 2026-06-09
   days on market $159,900 Active 25 DOM
4. 2026-06-08
   days on market $159,900 Active 24 DOM
5. 2026-06-07
   days on market $159,900 Active 23 DOM
6. 2026-06-05
   days on market $159,900 Active 20 DOM
7. 2026-06-03
   days on market $159,900 Active 19 DOM
8. 2026-06-02
   days on market $159,900 Active 18 DOM
9. 2026-06-01
   days on market $159,900 Active 17 DOM
10. 2026-05-31
    days on market $159,900 Active 16 DOM
11. 2026-05-30
    days on market $159,900 Active 15 DOM
12. 2026-05-15
    listed $159,900 Active 992-char remark
13. 2017-07-03
    soldstatus $78,900
14. 2017-06-16
    soldstatus $78,900
15. 2017-03-31
    listed $78,900
16. 2017-03-30
    historical
17. 2017-01-26
    historical
18. 2017-01-23
    listed $78,800
19. 2016-06-14
    listed $78,800
20. 2016-03-17
    historical
21. 2014-08-23
    listed $79,400
22. 2009-08-31
    historical
23. 2009-05-05
    listed $99,900
24. 2009-03-25
    historical
25. 2008-09-25
    listed $99,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $3,233 · $269/mo
• Projected year-2 tax: $3,233 · $269/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,176
• − Mortgage interest: −$8,957
• − Property taxes: −$3,233
• − Insurance: −$800
• − Repairs & maintenance: −$2,014
• − Management: −$2,014
• − Depreciation: −$4,652
• Taxable income: $3,507
• Est. tax owed @ 24.0%: −$842
• After-tax cash flow: $4,953/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Toledo City
• NCES district ID: 3904490
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 24% ▼ -13.00%
• Median HH income: $32,137
• Composite: 15.76/100
• National rank: #9276
• State rank: #634 of 656 in OH

Livability — Toledo

• Score: 66/100
• State rank: #645
• US rank: #11442

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Toledo, OH
• County: Lucas County · 380,724 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 40,146
• Household income: $57,713
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 1683.0

Population outlook (Lucas County) Hauer SSP2

• Today (2025): 420,751 people
• By 2030: 410,187 · -2.5%
• By 2040: 384,019 · -8.7%
• By 2050: 355,125 · -15.6%
• By 2075: 291,683 · -30.7%
• By 2100: 233,670 · -44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 26% Two or more races 6% Hispanic / Latino 4% Asian 3%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · China, Canada
• Languages at home: 93% English-only · Arabic 2% Spanish 1% Chinese 1%

Political lean MEDSL · Lucas

• 2024 margin: D (+12.6) · D 55.8% · R 43.2%
• 2008→2024 swing: -18.9pp toward R · 2008: 31.4pp · 2024: 12.6pp
• All cycles: 2024: D+12.6 2020: D+16.8 2016: D+17.4 2012: D+30.4 2008: D+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.44%
• Current HPI: 205.95
• Rent YoY: ▲ 2.59%
• Metro: Toledo, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+60.1% since first listed

17 events — show timeline

• 2026-06-10 Pending — NORIS
• 2026-05-27 Relisted — NORIS
• 2026-05-27 Contingent — NORIS
• 2026-05-15 Listed $159,900 NORIS
• 2017-07-03 Sold (Public Records) $78,900 Public Records
• 2017-06-16 Sold (MLS) $78,900 NORIS
• 2017-03-31 Listed $78,900 NORIS
• 2017-03-30 Listing Removed — NORIS
• 2017-01-26 Listing Removed — NORIS
• 2017-01-23 Listed $78,800 NORIS
• 2016-06-14 Listed $78,800 NORIS
• 2016-03-17 Listing Removed — NORIS
• 2014-08-23 Listed $79,400 NORIS
• 2009-08-31 Listing Removed — NORIS
• 2009-05-05 Listed $99,900 NORIS
• 2009-03-25 Listing Removed — NORIS
• 2008-09-25 Listed $99,900 NORIS

Property tax history

+2.4%/yr

Latest (2025): $3,233 · -0.4% YoY. Source: county tax records.